4 ways a contract helps you sleep: Part 3 – Stress and how to avoid stress

Over the last 2 weeks I’ve looked at how contracts can help you sleep by sorting out your cash flow and how contracts can help you sleep by building your relationships.

This week I’m going to look at how a contract helps you reduce stress and worry over unpaid bills.

A correctly worded contract stop you from counting sheep and get some sleep

A correctly worded contract stop you from counting sheep and get some sleep

If you are focusing on outstanding invoices, on money that hasn’t been received or your thinking about how do I talk to them about money, then you are draining your reserves, your not focusing on the correct end goal that will add most value to your customer, your not in your comfort zone, so you will be tired and you will sleep less.

Stress caused by worry over unpaid bills

  • Very few businesses don’t have to worry about paying bills

  • With the right contract, you can stop this as you get payment up front or a timescale for invoicing

Stress during family commitments

  • Payment is the biggest concern for small businesses

  • According to the FSB late payment biggest cause of time off work

  • Do you want to enjoy your downtime not worrying about that customer or that outstanding invoice

  • How would it feel to get back your family and leisure time

Having the right contract in place removes both of these stress points

By making sure your contract is written to give you the control that you want over with your relationship with your customer then you can remove these stress points.

Here is what Karen has said about how getting the right contract in place removed her stress

Writing my Terms and Conditions was something I’d been putting off for a while. I had the basics but kept worrying I’d left something out. Then I met Rachael Chiverton and joined the Getting Paid Support Group.

If you’re struggling to write your contracts or business terms and conditions, I’d certainly recommend getting professional help from Rachael.

As a Virtual Business Assistant, my terms are specific to the services I perform. I didn’t want my terms to come across as highly restrictive but I needed them to be precise, thorough and to cover all eventualities.

It felt like a huge piece of work and I dreaded getting started. I was tempted to do a cut and paste job but decided it was the wrong thing to do.

I believe in plain English too so I wanted by terms to be short, concise and written in a way that’s easy to understand.

I also wanted them to be published on my website. My business philosophy is about making it easier for my clients to work with me.

Rachael’s done a cracking job with my terms and conditions and I’m proud to have them out there.

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